Sorrento Therapeutics, Inc. (NASDAQ:SRNE)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Thursday. They currently have a $20.00 price target on the biopharmaceutical company’s stock.

SRNE has been the subject of a number of other reports. Oppenheimer Holdings, Inc. set a $7.00 price objective on Sorrento Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, August 29th. UBS AG began coverage on Sorrento Therapeutics in a research report on Thursday, August 3rd. They issued an “outperform” rating and a $7.00 price objective for the company. Roth Capital began coverage on Sorrento Therapeutics in a research report on Thursday, August 3rd. They issued a “buy” rating and a $7.00 price objective for the company. Finally, FBR & Co reiterated a “buy” rating on shares of Sorrento Therapeutics in a research report on Saturday, June 17th. Six research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $11.67.

Shares of Sorrento Therapeutics (NASDAQ:SRNE) opened at 1.775 on Thursday. The company has a 50-day moving average price of $1.75 and a 200 day moving average price of $2.05. The stock’s market cap is $122.42 million. Sorrento Therapeutics has a one year low of $1.50 and a one year high of $7.84.

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A number of institutional investors have recently bought and sold shares of SRNE. Intellectus Partners LLC raised its stake in Sorrento Therapeutics by 44.7% in the second quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock valued at $3,172,000 after buying an additional 490,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Sorrento Therapeutics by 25.3% in the second quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock valued at $3,861,000 after buying an additional 389,258 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Sorrento Therapeutics in the second quarter valued at $306,000. Virtu KCG Holdings LLC raised its stake in Sorrento Therapeutics by 497.7% in the second quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock valued at $328,000 after buying an additional 136,506 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in Sorrento Therapeutics in the second quarter valued at $230,000. Institutional investors own 16.31% of the company’s stock.

Sorrento Therapeutics Company Profile

Sorrento Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain. It is also developing therapeutic products for other indications, including immunology and infectious diseases.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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